Mack Real Estate Group

We recently hosted 20 students and faculty from UNC Kenan-Flagler’s Leonard W. Wood Center for Real Estate Studies for a tour of the Holston, our 20-story high rise across from Dix Park in Raleigh. Holston will be the first building to deliver at the Weld, our $700 million multi-phase mixed-use project in partnership with SLI Capital, scheduled for Summer 2025.

As more companies commit to building new factories in the U.S., particularly across the Sunbelt and Rust Belt, we see increased opportunities to develop nearby housing, warehouses, hotels and offices in anticipation of growing employment in a particular market. Our planned development of nearly 2,500 acres of land adjacent to the TSMC site in Phoenix, AZ is one such example.   Richard Mack, our CEO and Co-Founder, spoke with the The Wall Street Journal about the onshoring trend, our plans for the Phoenix development site, and his vision for “a city of the future.” Read the full article at the link below.   https://lnkd.in/eMJdWf3h

Yesterday Mack Real Estate Group and SLI Capital, along with Clancy and Theys Construction Company, celebrated topping The Holston, the first of two buildings included in Phase 1 of The Weld. The Holston, which stands 223 feet tall, includes 283 living units, an elevated pool deck and fitness center and a 20th floor Sky Lounge and co-working space. Phase 1 of The Weld will begin occupancy Summer 2025. The second building, Ray, topping out this fall, will round out the first phase of the $700 million project. After completion, the two 20-story buildings will offer 675 units of one, two-and three-bedrooms sitting on 3.5 acres at the intersection of Lake Wheeler Road and Hammell Drive, near Dix Park. Design of Phase 2 of The Weld continues, as does the City of Raleigh’s permitting process, with plans to incorporate an additional 525 residential units and 20,000 SF of retail. The Weld will provide a modern urban lifestyle, offering expansive park views along with restaurant and retail spaces surrounding a central plaza that will serve as a community gathering place. Situated between the verdant Dix Park and Raleigh’s thriving urban center, The Weld will connect the City’s past and the future. The location offers ready access to the park, in addition to the green spaces and common areas within The Weld property itself. The surrounding area was historically industrial in nature and has transformed into a vibrant mix of local, entrepreneurial businesses that create a unique, authentic appeal to residents. “Topping out of The Holston comes at a perfect time.” said Bryan Kane, CEO and Managing Partner at SLI Capital. “Not only does it keep us on track with our original timeline, but it also marks a milestone in new living alternatives around Dix Park.”

Exciting news to share! MREG prevailed at an auction to acquire and develop nearly 2,500 acres surrounding the TSMC semiconductor fabrication campus in Phoenix, AZ.  We’re proud to partner with the Arizona State Land Department and McCourt Partners on this transformative project. Read more about our development plans for the site in our press release below: https://lnkd.in/dexSwbkA

Members of the Mack team convened earlier this month for a site visit at Bloom at Deer Valley, MREG’s newest multifamily development. The team surveyed units and met with the subcontractors as we prepare to transition the project to operations.   Comprising 297 single family rental (SFR) units, Bloom at Deer Valley is located in a fast-growing submarket and is slated to open this summer.    As a vertically integrated, institutional real estate owner, operator, developer, and lender, Mack Real Estate Group is delighted to deliver another high-quality project in the Phoenix market. For more information, visit https://lnkd.in/dzMydPpW. 

Wishing you health and happiness in the coming year. Cheers to 2024! #HappyNewYear

Our CEO Richard Mack shared his insights at Forbes.com on the current market dislocations in commercial real estate financing. View the full article here and learn about the historical catalysts for today’s shifts. #CommercialRealEstate https://lnkd.in/gHEz-8Nw